USD/JPY daily USD/JPY soared after stronger US retail sales but stalled right at a key level. It rose to 149.32, just two pips shy of the 38.2% retracement of the swan dive from 161.80 to 141.67. It’s stalled there and backed off to 148.96. The Fibonnaci level is a classic barrier in a bounce from a quick dive and…
We expect notable CTA buying activity in Copper markets this session to set the stage for subsequent buying exhaustion, TDS senior commodity strategist Daniel Ghali notes. CTA buying activity in Copper to slow down “CTA trend followers will now be tapped out without a substantial rally propelling Copper prices back towards the $9,800/t mark. The set-up for flows is…
2024.08.15 2024.08.15 Pound Among Forex Leaders Again. Forecast as of 15.08.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ The British pound has faced a roller coaster ride over this summer, influenced by political developments, the recovery of the UK economy, and the commencement of the Bank of England’s monetary expansion cycle. What are the potential next steps? Let’s discuss this topic and make a trading…
Data from the Australian Bureau of Statistics (ABS) showed Australia’s seasonally adjusted unemployment rate increased from 4.1% to 4.2% in July. That’s the highest since February 2022! However, components of the report actually point to a stronger labor market for the month: A net of 58.2K jobs were added (vs. 20.2K expected) and June’s net additions were revised higher…
Wholesale sales m/m -0.6% vs -0.6% expected and -0.8% prior. New motor vehicle sales m/m 168.0K vs 184.7K prior. This article was written by Giuseppe Dellamotta at www.forexlive.com.
Decline in the US Dollar (USD) seems to have stabilised; it is likely to trade in a 7.1350/7.1630 range today. While downward momentum has been boosted, it is unclear at this time if it is sufficiently enough for USD to break below 7.0635, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. Bulls push towards 7.1630…
2024.08.15 2024.08.15 Day Trading vs. Swing Trading: What’s the Difference? Oleg Tkachenkohttps://www.litefinance.org/blog/authors/oleg-tkachenko/ Trading in financial markets can bring substantial profits. However, the result largely depends on a trading method. Although risk plays a significant role in trading, having a clear strategy is essential. Today’s financial market offers a variety of trading strategies so everyone can find a suitable method….
Don’t look now, but CHF/JPY is sitting right on a major area of interest on its daily time frame. As you can see on the long-term chart below, the pair is testing a Fib level, ascending trend line, and former resistance zone. Better keep your eyes on these levels in case the uptrend stays intact! CHF/JPY Daily Forex Chart…
Chelsea Football Club and TMGM are excited to announce a multi-year extension of their partnership. Having worked together since 2023, TMGM continues its position as the club’s Official Regional Online Forex and Trading Partner in the Asia-Pacific region. As an industry leader with offices on three continents, TMGM is renowned for its reliability in CFD trading, strict regulatory compliance,…
The Japanese Yen edges higher due to rising odds of the BoJ adopting a hawkish stance amid upbeat GDP data. Japan’s Gross Domestic Product increased by 0.8% in Q2, marking the strongest quarterly growth since Q1 of 2023. The US Dollar advanced due to improved Treasury yields despite a dovish sentiment surrounding the Fed. The Japanese Yen (JPY) gains…